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German Central Bank Completes Repatriation Of $28 Billion In Gold Three Years Ahead Of Schedule

On January 16, 2013, the Bundesbank - one of the biggest gold holder in the world, with 3,378 tonnes - shocked the world: out of the blue, the Ger ...

Fitch Threatens US with Downgrade

Did it forget how the US government hounded Standard & Poor's?

Simple Solution to Statue Dilemma: Ban Statues, Tear Them All Down

Activists are up in arms over statues. In the US, a statue of Robert E. Lee has to go. In the UK, activists want to take down a statue of Admiral ...

Friction burns

Three reports on Brexit came out last week. Two of them were risible. The one by Economists for Free Trade (the re-branded Economists for Brexit), ...

New Home Sales Plunge to Lowest Annualized Pace in Three Years

New home sales plunged to a seasonally-adjusted annualized rate (SAAR) of 571,000. That was far lower than even the lowest Econoday economist’s es ...

United Nations Issues Rare "Early Warning" - Signals Potential Civil Conflict In America

A United Nations Committee tasked with combating racism on a global scale has issued an ultra rare "early warning" for the United States citing "a ...

This Time Really Is Different

People in finance often say things because they make for good sound bites but don’t actually back them up with solid reasoning. Sound bites make y ...

US New Home Sales For July Decline 9.4% MoM, 8.9% YoY (Biggest Decline Since 2014 As Household Formations Decline To Lowest Level Since 2010)

July wasn’t a very good month for US New Home Sales.  New home sales fell 9.37% MoM. On a YoY basis, new home sales fell 9%, the worst since 2014 ...

New Home Sales Crash In July Following Plunge In Household Formations

New Home Sales crashed in July (down a shocking 9.4% MoM compared to expectations of unchanged) following the collapse of household formations in ...

America’s Vanishing Middle Class, Housing and Mortgage Markets (In One Chart)

The problem of America’s vanishing middle class is well-known: fallling income growth, changing demographics, etc. America’s mortgage lenders are ...

US Services Economy Soars To Highest Since April 2015 As Manufacturing Slumps

The US Manufacturing economy continues to languish near one-year lows (in line with the collapse in 'hard data' in recent months) but US Services ...

Three Critical Steps to Making America Great Again Are Not on Trump’s Agenda

Three Critical Steps to Making America Great Again Are Not on Trump’s Agenda By Pam Martens and Russ Martens: August 23, 2017 In 1996 the U.S. had ...

Bill Blain On Provident's Suprime Shock: "Can’t Get Much Worse You’d Think? Oh Yes It Can"

By Bill Blain of Mint Partners Blain's Morning Porridge Provident Financial. What a mess. Is it an opportunity? Provident has become the story of ...

A new capital?

What does capital do in the digital economy? This is the question posed by Phil in an important post. He says: Capital is proving itself surplus ...

The failure of the Trump presidency

This is a second update on the economy with some thoughts on where we are in the business cycle. Yesterday, in my first update, I talked about mon ...

Where does the false balance policy come from in the broadcast media?

Ben Chu and Simon Wren Lewis have both opined on how the broadcast media let us down in their coverage of Patrick Minford’s memo as chair of ‘Econ ...

What are the consequences of a parallel currency for Italy?

This week has seen the revival of talk about a subject which has done the rounds before. It would also appear that you cannot keep Silvio Berlusco ...

Adults, Teens and Jobs in California

In California, age plays a big factor in how one might see the health of the state's job market, where adults see very different prospects for col ...

Have We Lost the Ability to Adapt to Rapidly Changing Circumstances?

Successful adaptation requires a willingness to accept the risks of experimentation, innovation, flexibility and failure.The idea that the pace of ...

Would You Pay $1,000 For Each Equity Research Piece You Read? Autonomous Research Thinks You Will

Would you pay $1,000 for each piece of equity research you read throughout the day?  How about $5,000 for an industry piece?  Well, Autonomous Re ...

Bombastic Trump Threatens to Shut Down Government if Congress Does Not Approve the Wall

In a fiery speech tonight, President Trump demanded funding for a wall, threatening to shut down the government if he does not get his way. In the ...

The IOER Debate Redux

Back in the glory days of macroeconomics blogging there was a lot of electronic ink spilled over interest on excess reserves (IOER). Commentators, ...

Free Trade, the Primrose Path, and the Blinkered Blindness of macroeconomists

by New Deal Democrat Free Trade, the Primrose Path, and the Blinkered Blindness of macroeconomists Here’s what I learned today: the origin of the ...

Banks Earn Record Profits in Q2, Savers Sacrificed: FDIC

$9 trillion in deposits go a long way.

Transformation of Trump is Complete: Hello President Hillary

The phrase “President Hillary” has a strange sound to it. But other than Supreme Court appointments, we may as well elected her. Let’s count the w ...

Notes From Underground: Can Jackson Hole Foster a “Dynamic Global Economy”?

This is the topic of discussion for this week’s meeting in Jackson Hole. For the Federal Reserve system, this is a statement, but I raise it as a ...

Is Someone Attacking the U.S. Navy?

This post Is Someone Attacking the U.S. Navy? appeared first on Daily Reckoning. I’m most known for my research into currency wars, international ...

Funds Managing $1.1 Trillion Are Dumping Junk Bonds

Even before Ray Dalio doubled down on his warning that the US has become as dangerously fragmented as during the pre-World War II days of 1937, pr ...

House prices, Redbook retail sales, NY Fed survey

Home prices may be softening, but too soon to tell: Highlights The FHFA house price index came in at a very soft 0.1 percent increase in June, we ...

WTI Drops After 3rd Weekly Build In Gasoline Inventories

Amid Libya headlines and contract rollover, WTI prices were wild heading into the inventory data tonight. Following two weeks of surprising builds ...

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